IRAs - Individual Retirement Accounts

An IRA is a personal investment plan for your future. You can defer taxes on both the principle and earned interest until distributions are taken in accordance with IRS regulations. This account must be opened with a minimum of $500.00 and must maintain at least a balance of $500.00.

Traditional IRAs

Roth IRAs

Special Tax Deferred savings plan

Earnings accumulate tax deferred until you make withdrawals

Contributions are tax-deductible for those who qualify

You can contribute to a traditional IRA if you earn compensation and will not reach the age 70 & ½ by the end of the year.

Maximum contribution limits are determined by the federal government and are based on your age, as well as the current year.

Never tax-deductible, but earnings accumulated can be tax free

Qualified distributions are tax-free

Contributions are allowed at any age as long as you continue to earn compensation and compensation is less than the limit set by Congress

Flexible withdrawal options are available

Maximum contribution limits are determined by the federal government and are based on your age, as well as the current year.